THE YEN FOR AMERICAN CLIENTS
The volatility of the leasing industry has meant incessant mergers
and acquisitions. Seafirst sold its leasing subsidiary to Metropolitan
Life, which also bought Litton Industries Credit Corporation.
Equilease, the leasing subsidiary of Allied Corporation, is said to
be available, though it may be attempting a leveraged buy-out. Ingersoll
Rand's equipment finance unit, too, may be for sale.
The broken-up parts of AT&T have been building up leasing
capability: AT&T itself has hired Tom Wajnert, from USLeasing, to
develop AT&T Credit. New Jersey-based Bell Atlantic bought
Tricontinental Leasing, with its strong middle-market presence. Another
local telephone operating company, Denver-based US West, has just bought
New York-based Commercial Funding Inc from the consortium of
Scandinavian banks which bought out its founders only two years ago.
Truck leasing companies have been eagerly sought by McDonnell
Douglas Finance Corporation, in its quest...
